VW selling Italdesign

MILAN: Volkswagen is on a strategic and cost-cutting measures. One asset it is putting up for sale is Italdesign.

Parked under Audi, the renowned Italian design and engineering firm founded in 1968 by Giorgetto Giugiaro and Aldo Mantovani, is officially up for sale as part of a strategic realignment within the Volkswagen Group.

The company, known for iconic vehicles such as the DeLorean and Alfa Romeo Alfetta, has informed its 1,000 employees about the sale, according to a report by Italian daily Corriere della Sera.

Various media reports indicated the management had assured staff that ongoing projects are expected to continue uninterrupted during the process

Italdesign has been part of the Volkswagen Group since 2010, when Volkswagen acquired a 90.1% stake through its subsidiary Lamborghini, completing full ownership in 2015 after buying the remaining shares from the Giugiaro family.

Under Volkswagen Group ownership, Italdesign has continued to operate as a service provider in design, engineering, prototyping, and low-volume manufacturing, serving both Volkswagen brands and external clients globally.

Potential buyers are said to include industry investors and rival design houses interested in Italdesign’s consultancy and manufacturing capabilities.

Union representatives have expressed concern about the future of the company, which remains profitable and influential in automotive design.